Project Management

5 Steps of the Procurement Lifecycle [Video]

From the The Money Files Blog
A blog that looks at all aspects of project and program finances from budgets, estimating and accounting to getting a pay rise and managing contracts. Written by Elizabeth Harrin from

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Categories: procurement

There are 5 steps in the procurement lifecycle:

  1. Requirements
  2. Vendor selection
  3. Negotiation and contracting
  4. Service delivery and performance monitoring
  5. Renewal/contract closure.

This video outlines the steps and talks specifically about the requirements and getting the procurement off to a good start by understanding what you need from the exercise.

Read more articles about procurement.

Posted on: April 24, 2019 09:00 AM | Permalink

Comments (8)

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Very useful and Interesting Video. Thanks for sharing it.

Very nicely presented and explained.
Thanks a lot Elizabeth!!

Thank you for sharing

amazing presentation of procurement management

The most important is meet project requirements!!!!

Productive information. I am a professional Contract Manager and I can attest that PMs are involve and provide inputs in all five lifecycle of procurement/contract management. There are detail and specific inputs during each processes in the Contract Management Body of Knowledge (CMBOK).

Great share thank you Elizabeth, looking forward to the the next one!

Thank you Elizabeth for sharing the knowledge and experience of setting procurement requirements.

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